The United States Mint has announced that they will offer the America the Beautiful Quarters in bulk bags containing 200,000 coins through a newly established Bulk Purchase Program. The program was created in response to the current economic conditions which make it difficult for businesses to obtain large quantities of the new quarters through the banking system.
Circulating coinage is typically distributed to the banking system through the Federal Reserve Banks, which provide sufficient quantities of coins to meet transactional demand. Generally circulating coins are distributed without regard to specific date or design. In some cases, special ordering procedures are provided, which allow banks and depository institutions to order unmixed quantities of newly released coins. A program is currently in place, which allows banks to order unmixed quantities of $1,000 or $2,000 worth of Presidential Dollars within a five week window of the circulation release date.
There are no special ordering periods in place for the America the Beautiful Quarters Program, which has made the coins more difficult to obtain through the traditional channels.
Orders for the 200,000 bulk bags containing face value $50,000 in quarters will carry a 3% processing fee of $1,500 per bulk bag. This fee covers the additional costs related to processing orders through this channel.
Individuals or businesses who order coins through the program must arrange pick up from the United States Mint at Philadelphia or Denver with a properly licensed commercial carrier. Only "P" mint marked coins will be available for pick up in Philadelphia, and only "D" mint marked coins will be available in Denver.
Orders may be placed for new quarter designs up to one week prior to the circulation release date. View the America the Beautiful Quarter circulation release dates. Orders will also be accepted for previously released quarters as long as unassigned inventory exists.
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A bag containing $50,000 in quarters would weigh 2,500 lbs. I don’t think we’ll see many UPS drivers delivering those.
Nice gesture?… Personally I don’t see what could have been so difficult about rolling them and putting them in the $500 boxes like they used to.